Shares of PacWest Bancorp crumbled after the close of trading on Wednesday, diving 55% to $2.88 amid a report by Bloomberg News that the $44 billion bank is weighing its strategic options, including a possible sale.
In announcing the deal on Monday, JPMorgan CEO Jamie Dimon said that absorbing First Republic would help stabilize the banking industry, while warning that the turmoil affecting midsize and small lenders could continue.
Other regional bank stock also continued to reel on Wednesday. Western Alliance sank 4% before tumbling another 29% in after-hours trading, while Comerica and Zions Bancorporation also fell sharply. The KBW regional bank index has lost 29% this year. Although PacWest's stock has tanked in recent weeks, the company hasn't faced the kind of massive capital flight that crippled Silicon Valley Bank, noted analyst Adam Crisafulli of Vital Knowledge. Inits first-quarter earnings on April 25, PacWest said its total deposits had increased $1.1 billion to $28.2 billion.
PacWest also has far less in uninsured deposits — client funds in excess of the $250,000 account cap guaranteed by the U.S. — than SVB did when it capsized in March. CEO Paul Taylor noted last month that the bank's total insured deposits had risen from 48% of total deposits at the end of 2022 to 71% as of March 31.
"It's important to remember that Silicon Valley and First Republic were unique, and investors shouldn't simply extrapolate what happened to them to the whole regional landscape," Crisafulli said in a report.
日本 最新ニュース, 日本 見出し
Similar News:他のニュース ソースから収集した、これに似たニュース記事を読むこともできます。
Bank stocks continue to fall following First Republic demiseRegulators have barely written the epitaph for First Republic Bank, but investors on Wall Street have already moved onto speculating which bank might be the next to fail. Bank stocks fell sharply Tuesday, led downward by smaller banks with heavy exposure to uninsured deposits and commercial banks like Western Alliance Bank, PacWest Bancorp, Comerica and Zions Bank. Shares of Western Alliance were down 17% in afternoon trading and PacWest dropped 25%, with trading of both stocks halted briefly due to high volatility. The ongoing concern among investors and regulators is that banks such as PacWest have large amounts of uninsured deposits _ those above $250,000.
続きを読む »
Bank stocks tumble as First Republic deal fails to stem contagion fearsShares of Los Angeles lender PacWest Bancorp fell 28% as spooked investors bail from regional banks.
続きを読む »
PacWest Bancorp, Western Alliance post steep losses after First Republic dealRegional bank stocks are moving deeply into the red on Tuesday, the day after JPMorgan Chase & Co. said it’s acquiring First Republic Bank as a way to shore...
続きを読む »
PacWest falls 30% as regional banks stocks slide to new lowsRegional bank stocks saw their losses for the week deepen as investors digest the failure of First Republic.
続きを読む »
Stocks making the biggest moves midday: Uber, Chegg, Dell, PacWest, SoFi & moreThese are the stocks posting the largest moves in midday trading.
続きを読む »
PacWest, Western Alliance shares tumble as US regional bank fears persistShares of U.S. regional banks PacWest Bancorp and Western Alliance Bank plunged on Tuesday as the demise of First Republic Bank triggered investor concerns about the financial health of other mid-sized lenders.
続きを読む »